Did you know? As per the recent survey conducted, nearly 7 lakh insurance agents are associated with general insurers and health insurers.
If you are considering a career as an insurance agent from the comfort of your home or aiming to become a General Insurance Agent, your role will be pivotal in helping customers select the most suitable policies based on their individual needs. By taking on the responsibilities of an Insurance Agent, you will not only contribute significantly to your family’s financial well-being but also have the chance to make a meaningful difference in the lives of others.
Though there are many insurance providers available, becoming a Royal Sundaram General Insurance Agent may let you reap countless benefits. Royal Sundaram General Insurance Co. Ltd., previously known as Royal Sundaram Alliance Insurance Company Limited, is a subsidiary of the Sundaram Finance Group. It became the first private sector general insurance company in India to receive its license from the Insurance Regulatory and Development Authority of India (IRDAI) in October 2000.
Excited to become a Royal Sundaram General Insurance Agent? If so, let’s dive into the comprehensive overview of the steps involved and the estimated time required to establish yourself as an insurance agent in India.
Eligibility Criteria
If you want to become a Royal Sundaram General Insurance agent online, you need to meet several requirements. First, you must be at least 18 years old. Additionally, you should have completed your education up to at least the 10th grade. Essential documentation includes having a valid Aadhaar Card and PAN Card. Once these prerequisites are met, you will be required to complete a mandatory 15-hour training program specified by the Insurance Regulatory and Development Authority of India (IRDAI).
Roles and Responsibilities of a Royal Sundaram General Insurance Agent
Here is a list of the key roles and responsibilities of a Royal Sundaram General Insurance Agent.
- Helping Customers Choose the Right Policy
One of the prime roles and responsibilities of a good Royal Sundaram General insurance agent is they guide customers in selecting the most suitable insurance policy based on their specific needs. This includes answering all questions about coverage and required documents and assisting with any necessary medical tests for policy issuance.
- Customer Requirement Analysis
Another major responsibility is that agents must gather and analyze detailed information to assess risk levels and assist clients through the claims process. Strong analytical skills are essential for this role.
- Understanding Client Needs
One key responsibility is that Royal Sundaram agents evaluate their clients’ investment and protection needs and propose appropriate insurance plans. This involves scheduling meetings, assessing current coverage and investments, and setting long-term financial goals.
- Following Up on Leads
Regular follow-ups with leads are crucial. Developing a personal connection with customers through methods such as phone calls can help ensure effective lead management and conversion.
- Data Collection
Last but not least, the Royal Sundaram agents must collect and maintain confidential data from potential policyholders. This information can be gathered from internal records and claims officers who handle the logging, maintenance, and processing of claims.
Benefits of Becoming a Royal Sundaram General Insurance Agent
Here is a list of the benefits of becoming a Royal Sundaram General Insurance Agent.
- Helping People In Case of Emergency
As an insurance agent, you play a crucial role in assisting people during unexpected events such as accidents, health issues, or property damage. You simplify complex policy terms for buyers, guiding them to choose the right insurance coverage. Each policy sold not only helps clients but also earns you rewards from the insurance company.
- Flexible Working Hours
Unlike a typical 9-to-5 job, being an insurance agent offers flexibility. You don’t need to be tied to a desk all day. You can work at your convenience, either from an office or from home. This role is ideal for homemakers and those who prefer to set their schedules. You can reach out to potential clients via phone or online and work whenever it suits you.
- Earning Possibility
Your earnings as an insurance agent depend on your performance and effort. The more policies you sell, the higher your commission. Hard work and dedication can lead to substantial income, reflecting the number of policies in your portfolio.
- Building Long-Term Relationships
Being an insurance agent isn’t just about making sales; it’s also about forming long-term relationships with clients. You have the opportunity to connect with clients on a deeper level, fostering trust and loyalty over time.
- Continuous Learning and Growth
The insurance industry is ever-evolving, offering continuous learning opportunities. As you sell different insurance products, you gain more knowledge and experience, which helps you grow professionally and expand your business.
Steps to Become a Royal Sundaram General Insurance Agent
Listed below are the steps to becoming a Royal Sundaram General Insurance Agent.
- In the first step, you will need to visit the official website of Royal Sundaram.
- Then, you will need to navigate through the section wherein you will have to become an agent. Once the homepage loads, look for a section typically labelled “Become an Agent” or “Join Us”. This is usually found in the main menu, footer, or as a prominent banner.
- If the option to become an agent is not immediately visible, navigate through related sections like “Careers” or “Partners” until you find it.
- Click on the “Become an Agent” link, which should direct you to the application form. Then, you will need to provide your full name, residential address, contact number, email address, and any other personal information required.
- Fill in details about your professional background, including any previous experience in insurance or related fields. After that, you may be required to upload scanned copies of your identification, educational certificates, and any professional licenses or certifications.
- After completing the form, click on the “Submit” button to send your application for review. You should receive a confirmation message on the website and possibly an email acknowledging receipt of your application.
- The Royal Sundaram team will review your application. The entire process might take a few days to weeks. Once approved, you might need to complete additional formalities, such as signing an agreement or providing more documentation.
How Much Royal Sundaram General Insurance Agents Earn?
Let’s take a look at the earnings of Royal Sundaram General Insurance Agents in India.
| Level of Experience | Average Monthly Earnings (INR) | Commission Structure |
| Entry Level | 20,000 – 30,000 | Commission based on policy sales volume |
| Intermediate | 30,000 – 50,000 | Increased commission rates for higher sales |
| Experienced | 50,000+ | Bonuses and incentives for exceeding targets |
Note: These figures are subject to change based on different factors like their years of experience, level of expertise, educational background, and more.
Frequently Asked Questions
Listed below are the frequently asked questions related to the Royal Sundaram General Insurance Agent.
- What is the qualification of a General Insurance Agent?
General Insurance Agents must be certified by the Insurance Regulatory and Development Authority of India (IRDAI).
- What are the major skill sets of an insurance agent?
When it comes to becoming a Royal Sundaram general insurance agent, Key skills may include product knowledge, negotiation abilities, active listening, and strong relationship-building skills. These skills enable agents to boost their sales and cultivate enduring client relationships.
- How do you become a Royal Sundaram insurance agent?
To become a Royal Sundaram agent, you need to have passed the 10th standard examination and be at least 18 years old. The costs associated with training, exams, and registration are typically affordable, making it accessible for individuals from diverse socio-economic backgrounds to apply.
- How do Insurance agents help insurance companies?
Insurance agents play a crucial role in helping insurance companies acquire new business. They achieve this by reaching out to potential customers and selling various types of insurance policies.
- Can I work as a Royal Sundaram General Insurance agent from home?
Yes, flexibility in work location is one of the benefits of being a Royal Sundaram General Insurance agent. You have the option to work from home or establish your office setup.
